American Express® Gold Card Refresh: Full of Changes for Foodies

We heard rumors of a major rewards card refresh last week and it became a reality. Most of the changes deal with food. Is the news sweet and savory? Or does it put a bad taste in your mouth? Let’s go over everything!

(Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.)

American Express® Gold Card Refresh

We’ll break down each change and then go over what’s remaining.

Annual Fee Hike

Let’s get the hard part over first: the American Express® Gold Card raised its annual fee from $250 to $325 (See Rates and Fees). However, Amex added a couple of statement credit benefits (because, of course, they did). The $75 hike doesn’t hurt too much if you can take advantage of those. In fact, you can really come out ahead. Otherwise, this could easily be a deal breaker for some people. We’ll address that in a minute.

Up to $100 Resy Statement Credit Credit (U.S. Restaurants Only)

Resy is an online restaurant reservation platform similar to Open Table. It also allows members to pay their tabs through the Resy app.

Amex Gold Card members can earn up to $50 in statement credits semi-annually (January through June, then July through December) for eligible U.S. Resy restaurant purchases.

“What’s an eligible Resy purchase?” you might ask. Per Amex:

Eligible Resy purchases include purchases made directly from U.S. restaurants that offer reservations on Resy.com and the Resy app, and purchases made directly on Resy.com or in the Resy app. Restaurants must be live on Resy.com or the Resy app at time of purchase to be eligible for the statement credit and are subject to change at any time. Purchases made via Resy Pay, purchases of Resy OS restaurant management software, and Resy-branded American Express® Gift Cards are not eligible. Gift cards purchased at restaurants also may not receive the statement credit.

So, look up a restaurant in the Resy app or Resy site. Use your Amex Gold Card to pay the bill. You should see a statement credit within a few weeks.

Enrollment is required, even for existing cardholders. I used the Amex app to enroll, which took about ten seconds.

Up to $84 Dunkin’ Statement Credit (U.S. Restaurants Only)

Amex Gold Card members can earn up to $84 in statement credits each year (up to $7 monthly) for eligible purchases at Dunkin’ locations in the United States.

You might not receive the credit if you pay at a Dunkin’ inside another business (like a gas station) or at a pop-up location. Gift card purchases are also expressly ineligible.

Again, enrollment is required. Don’t get your glazed donut and iced coffee before enrolling your card!

Changes to the Monthly Dining Credit

You can earn up to $120 in statement credits each year (up to $10 monthly) for eligible purchases made at select food and beverage merchants. The participant list gets some changes every couple of years. Milk Bar and Shake Shack are no longer eligible for the credit — but Five Guys is. That means the current roster is:

• Grubhub
• The Cheesecake Factory
• Goldbelly
• Wine.com
• Five Guys

You guessed it: enrollment is required.

Restaurant Earnings Get Capped

The Amex Gold Card earns 4X Membership Rewards® points per dollar spent at restaurants worldwide, including takeout and delivery in the U.S. But that now applies to only the first $50,000 spent per calendar year. Then it’s 1X. Until this refresh, there was no limit on the 4X.

I know some people who spend $50,000 at restaurants each year. Frankly, they couldn’t care less about their points being capped. (And they usually pay with a black card or The Platinum Card® from American Express because they wouldn’t be caught dead using something else, even if the points earnings are significantly better.)

This change stinks for some people who spend $50,000 on dining during a year only a few times (if that) during their lives. Those expenses are usually very limited to events such as weddings or bar/bat mitzvahs.

If this is a dealbreaker but you have a partner or spouse, have them get an Amex Gold Card, too. Then your cumulative limit is $100,000 per year ($50k per account). I look forward to meeting you for dinner! 😉 )

A New Card Design

Move over, Gold and Rose Gold! There’s a new kid on the block: White Gold!

Eh. It doesn’t do anything for me.

Limited Time Welcome Offer

Cards generally feature limited-time offers when they refresh. The Amex Gold Card offers 60,000 bonus Membership Rewards® points after you spend $6,000 on eligible purchases on the card within six (6) months of being approved for card membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. This limited-time offer expires on November 6, 2024. Terms apply. The previous offer was 60,000 points for $6,000 during the first six months. The restaurant statement credit of up to $100 is the difference here. You can learn here how to apply for this offer.

Here’s What’s Staying

Several features and benefits weren’t affected.

Points Earnings

These earnings remain.

• 4X at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
• 3X on flights booked directly with airlines or at amextravel.com
• 2X on prepaid hotel bookings at amextravel.com
• 1X points on all eligible purchases

Again, the key change is that restaurants worldwide (including takeout and delivery in the U.S.) still earn 4X but only on up to $50,000 per calendar year in purchases, then 1X

Travel Features

The Uber Cash and Hotel Collection benefits remain:

• $120 Uber Cash: Enjoy up to $120 in Uber savings on rides or eats orders in the U.S. annually, distributed as $10 monthly. Uber Cash is available to the primary cardholder only. (Enrollment is required. Terms apply. Uber Cash deposits are made monthly and expire if not used. To receive this benefit, you must have downloaded the latest version of the Uber App and your eligible American Express® Gold Card must be a method of payment in your Uber account. The Amex Benefit may only be used in the United States.)
• $100 The Hotel Collection Credit: Earn an experience credit with a minimum two-night stay when you book The Hotel Collection through American Express Travel. (Eligible experience credit varies by property.)

My Take

The “coupon book” model that American Express is spreading across most of its premium cards is getting a little old. That said, I don’t mind most of the changes and will keep my Amex Gold Card (at least for another year).

Here’s why it works for me. But it might be entirely different for you (and I’d love to hear your thoughts in the below Comments section).

First, let’s look at the Resy credit. I can easily earn back the $100 yearly, but I live in a major city where several restaurants participate in Resy. But the Resy credit probably does nothing for people outside major metropolitan areas. If they travel to big cities a couple of times each year and can find a Resy restaurant they like or want to try, then the benefit might be worth it. Otherwise, I see this as a dealbreaker for at least some people.

I couldn’t care less about the Dunkin’ credit. I don’t even know where there’s a Dunkin’ location near me. I see them from time to time when I’m driving somewhere. But I also live on the West Coast. Dunkin’ is more of a Mid-America and East Coast thing (at least, I think so).

Monthly dining credit-wise: I almost always use my $10 for Grubhub or The Cheesecake Factory. Losing Milk Bar and Shake Shack isn’t a big deal for me. But, again, I couldn’t tell you where there’s a Five Guys near my house. And when I travel, I tend to eat at restaurants that aren’t close to where I live.

I wish I could complain about the 4X dining earnings being capped at $50,000. At first, it’s like, How dare they limit the earnings! But I don’t come close to spending that on dining out or ordering in.

I have the Rose Gold version of the card. It’s fine. The White Gold does absolutely nothing for me.

All said and done, I don’t love the $325 annual fee, but I can still make it work. (See Rates and Fees)

What do you think about the Amex Gold refresh?